Dubai: Rent up by 50%

Residents living in an apartment building in Al Qusais, Dubai said they were amazed when the landlord raised the rent by more than 50 per cent, Gulf News reported.

The City Towers Real Estate, an agency which manages and rents out the building, recently posted the notices of the rent hike. Rent for a two-bedroom flat has risen from Dh36,000 to Dh55,000 within one year.